Settlement of a dispute (whether of fact, law, or procedure) between parties to a contract by a neutral third party (the Arbitrator) without resorting to court action.

Mediation

action in mediating between parties, as to effect an agreement or reconciliation.

Negotiation

Bargaining (give and take) process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an agreement to settle a matter of mutual concern or resolve a conflict.